Economy

From 8-11 November, 2014, the “autumn university” of MPEP (Political Movement for the Emancipation of the People) took place in Bordeaux. It was held under the motto: “New Dynamics for Republican Resistance against the EU, De-globalize in order to regain National Sovereignty”. Movements from Greece, Italy, Spain and Austria also exposed their views. General tendency: the popular anger against the austerity dictate by Berlin’s Euro regime is increasing and might soon explode.

The German elites are dictating Europe extreme austerity. The ideology behind that: salvation comes about by emulating the German export-driven wage-deflationary model. Only by means of such drastic treatment the EU periphery could regain competitiveness. In this way these economies are pushed into deep recession with an unknown end. Dozens of millions of people are forced into unprecedented misery which for decades had been considered overcome for capitalist Europe. Eventually Germany itself will be drawn into the vortex of crisis as it is destroying its own markets. The only solution suggesting itself: dissolving the eurozone.

The European Union is experiencing its deepest and most acute crisis ever – both in economic as well as in political terms. We are faced with massive capital flight from Southern Europe to its centre, which is not much longer sustainable. At the same time the imposed austerity is driving a downward spiral into recession leading to mass impoverishment. Popular protests are in the making while the politico-institutional framework is at the brink of collapse. The Euro and the entire EU is being threatened, destabilising the power of the capitalist elites.